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Spotlight on Westover Park - League City

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Real Estate Agent with Keller Williams Realty 311578

Westover Park currently has almost a thousand homes, with more being added to that number monthly.  There are several new home builders to choose from; Gehan Homes, Highland Homes and D.R. Horton. These homes range from the low 200’s to the low $300’s and feature 3 to 5 bedrooms and 2 to 3 and one half baths.  Most have 2 car garages however there are a couple available with 3 car.

As the new home market is changing in Westover Park, this report focuses mostly on resale.  As of today there are 23 homes for sale, 7 of those are under contract.  In actual fact, this number percentage wise at least is not quite as high as some other neighborhoods.  Some neighborhoods in League City are experiencing 45 to 50% “pending” rates; meaning if you drive through a neighborhood and see 10 signs, 4 to 5 of those aren’t even available.

Right now as an example in Brittany Lakes  22 homes are listed for sale however, there are only 8 that don’t have contracts on them.  Still all in all, the market is strong in Westover Park.

Twenty eight homes have sold year to date (resale- again this doesn’t include new construction) with an average sales price of $215,821 and a dollar per square foot of $82.34.  The average home sold was just over 2,600 square feet.  Last year during this same time frame there were 26 homes sold with an average dollar per foot value of $76.17 so as you can see, there’s been a pretty good jump in prices- almost 8 percent.  Maybe even more significant however is the huge drop in the number of days that a home in Westover Park stays on the market before being sold.  Last year it took 76 days to get a home under contract, this year it’s 50 days.

Keep in mind that because recent changes in the mortgage industry coupled with high demand for new home loans, contract to close times are taking longer.  The typical lender now wants 45 days to close a loan. The normal closing time in the last few years has been about a month.  Not anymore.

Most homes sold in Westover Park were financed with conventional loans, a small number of government loans (FHA and VA) were  made there.  Three of the homes sold were cash sales.  In addition, we’re seeing much less in the way of seller contributions (sellers paying buyers closing costs).  With a stronger market, sellers are not wanting to chip in.  Gone are the days of sellers paying 3% in buyer closing costs.

Distressed sales are down as well with only 4 of the 28 homes sold this year being foreclosures or short sales.  Last year, 8 of the 26 homes sold were distressed- nearly 30%.

Right now there is a good selection of smaller single story 3 bedroom, 2 bath homes ranging from 160 to $180,000.  If a pool is your thing, your only choice today is 6168 Blackburn Ct.  By the way I get asked often about homes with pools.  Of course it will vary by price range but in Westover Park and similar neighborhoods in the Clear Lake area, about one in ten homes will have pools.   I know, you’d think as hot as it is here in Houston, everyone would have a pool, right?  Not so, but don’t forget that most of our neighborhoods have neighborhood pools so you do have the option to cool off.

 View all of the homes for sale in Westover Park.

Homeowners can get a free report on Westover House Prices here.

According to a recent study by the Houston Association of Realtors, inventories are at their lowest point in 13 years.  So if you know anyone who may have a home to sell in Westover Park, be sure and give our office a call at 713-898-1166.

League City Homes for Sale 

100-$200k

200-$400k

400-$600k

$600k Plus

 

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